Tammy Meidharma - CEO, Nusantara Regas – Indonesia

1. Eurasian Natural Gas Infrastructure Conference
May 30 - 31, 2017
Milan - Italy
PT NUSANTARA REGAS
LNG FSRU Business Model
Tammy Meidharma
President Director

2. The presentation is made solely for the purpose of this event and is not intended to be and should not
be used by any other person or entity. The contents may contain copyright and/or legally privileged
information and the reader must therefore not use, copy, disclose or take any action based on this
presentation material or any information herein.
PT Nusantara Regas (or by any of their respective officers, employees or agents) will not in any
manner whatsoever be deemed or construed to implicitly or explicitly represent or warrant the
accuracy or completeness of the information or the contents of this presentation material. All
consequences and/or liabilities (including without limitation, those arising from negligence) to other
parties for the utilization of the documents are specifically disclaimed.
Disclaimer

3. 1
COMPANY PROFILE
Shareholders
 PT. Nusantara Regas was established
in 14 April 2010
 Initial start-up was on May 2012
 The business scopes are:
 FSRU operator
 Transport, Storage, and re-gasify LNG
 Buy LNG from suppliers
 Sell re-gasified LNG to end users
 PT Nusantara Regas was the
implementation of Presidential
Instruction No. 1 / 2010 for:
 Overcoming the problem of gas supply
to PLN in Jakarta Bay
 Accelerating the development of
national energy
 Synergizing the Energy State Owned
Companies (Pertamina - PGN - PLN)
 Reducing the burden of the state
budget for fuel subsidy
History
Modified
Golar Khannur
LNG Carrier - 1977
FSRU
Indonesia National
Oil Company
Indonesia National
Gas Company

4. Muara
Karang
Muara
Tawar
Tanjung
Priok
FSRU
Nusantara
Regas 1
 5o 58’ 28.920” S
 106o 47’ 57.96” E
 At 22 - 23 m Water Depth
 15 km from Muara Karang Shore
FSRU LOCATION - Waters of Jakarta Capital City
Jakarta
Bay

5. OUR FACILITIES
LNG Carrier
FSRU
ORF & Metering Station Tug Boats

6. FSRU MAIN EQUIPMENTS
 Mooring system: 4 mooring dolphin & 4 berthing dolphin
 Mooring dolphins equipped with 3 pad-eyes for connection to mooring lines
 Berthing dolphins equipped with 2 pad-eyes for connection to mooring lines & 3 fenders to absorb LNGC impact
 LNGC size for STS to FSRU (side by side mooring) maximum 155,000 m3
 LNG liquid flow from LNGC through 2 LNG loading arms, each flowrate 4000 m3/hour, & 1 vapor arm
 Regas train 250 mmscfd x 3 (each train: 125 mmscfd x 2 regas skid) ; 2 trains running & 1 train standby
 Regas with propane-close loop system (sea water to heat propane)
 Subsea pipeline with 24 inch diameter, & 15 km length
 Maximum ORF design capacity is 500 mmscfd

7. LNG SUPPLY SOURCE
Planned pipelineExisting pipeline
Existing FSRU Existing LNG
Terminal
LNG KTI
development
LNG Bontang
LNG Tangguh
LNG Donggi Senoro
West Java FSRU
Location : Jakarta Bay
Capacity : 3 MTPA
Operator : Pertamina (60%)
PGN (40%)
COD : Q 3 2012

8. KEY DRIVERS OF NR FSRU PROJECT
GOVERNMENTAL  Government to increase the portion of gas for domestic use through
Domestic Market Obligation
 Government decisions to increase the level of energy independence
for a country or region by developing an alternative energy supply
ECONOMIC  GDP growth triggered macro economy activities to use more gas,
especially for public utility and industries.
 Energy cost advantage of LNG over alternative energy source
 High price oil base fuel compared with gas.
 Indonesian fuel subsidies are increasing as public utility demand
grows.
 Absence of infrastructure such as receiving terminal & pipeline
 Needs for distributed power/energy supply.
SOCIOCULTURAL  Use of gas relatively new and it is not yet used as base load to
generate power/energy for public utility and industries.
TECHNOLOGY  Use of gas requires high-tech equipment to ensure safety in operation.
 No extensive gas pipeline network, especially in Eastern part of
Indonesia.
ENVIRONMENTAL  Awareness to reduce local pollution and CO2, Sox, NOx emissions
compared to alternative fossil fuels
LEGAL  Legal agreements tools is established to cover whole business issues.

9. KEY ENABLERS OF NR FSRU PROJECT
TECHNOLOGY  More efficient and cost effective
 Proven technical feasibility
FINANCING  FRSU project requires lower investment
FISCAL REGIME &
SUBSIDIES
 Government support in term of less tax & permit for equipment could
reduce terminal development cost
POLICY &
REGULATION
 Enforcement of environmental benefits is typically imposed by
government interventions through policies or regulations

10. KEY CHALLENGES OF NR FSRU PROJECT
COST  Lack of economies scale due to expensive materials (cryogenic)
ENGINEERING  The challenge is to develop cost-effectively and fit-for-purpose
technological solutions, and not against safety standards
SAFETY  Maintaining safe and reliable operation can be a challenge when
lacking LNG experience
 Requiring a framework of standards and guidelines to maintain the
current safety level in the industry.
SUPPLY & DEMAND  The growth of business is linked to deliverability and sustainable
demand for LNG
 Consumers wish for security of supply before committing to LNG
 Suppliers need to secure a market to justify the investment
FUEL SUPPLY CHAIN
DEVELOPMENT
 The challenge is to operate and design all elements of such a supply
chain effectively and competitively from source (gas field, liquefaction,
LNGC, FSRU, pipe-line) all the way to end-customers
POLICY &
REGULATION
 Lack of consistent and change of policy and regulations, mainly for less
developed markets with absence of policies
10

11. LNG TERMINAL CONFIGURATIONS (Pros & Cons)
CONFIGURATION PROS CONS OTHERS RECOMMENDATION
Onshore
Regasification
Terminal
• Expandable flexibility
• Higher levels of
availability
(99,5%)
• Well proven technology
• Excellent safety record
• Qualified local labor force
• Insulation efficiency
(0,05%)
• Lower costs for long term
solutions (lower OPEX)
• Land and port
facilities required
• Social acceptance
• Requires long
term investment
• More adequate
to handle with
long term natural
gas supply
growth
More recommended for
LONG TERM
PROJECT
FSRU
and
FSU + Off/On shore
regasification
• Less visual impact
• Leasing alternative
• Land not required
• Able to be located close
to final consumption
points if port
infrastructure is available
• Lower costs for
short/medium term
solutions (lower CAPEX)
• Allow rapid fuel switching
• Not easily expandable
• Less space between
relevant equipment's
• Face meteorological
conditions
• Crew management
• Higher O&M cost
• Periodical inspection
(4 years)
• Insulation efficiency
(0,15%)
• Limitations in storage
and send
out capacity
• Fast-track
solution
• Port availability
required
• Temporally
solution until the
onshore
regasification
terminal is built
More recommended for
SHORT TERM
PROJECTS except in
case of exceptional
conditions (SoS or
environmental
conditions)

12. LNG TERMINAL COST COMPARISON
a) Between 0 and 8/10 years, most
profitable option FSRU leasing
b) From 10 years, most profitable option
On shore terminal
c) FSRU construction is not in any case
the most favorable option
FSRU Advantages:
1. Fast Delivery Time
2. Proven technology
3. Do not require Land Acquisition
4. Simple Permit
5. 10 years Economically Feasible
6. Few On-shore facilities
7. Do not require Jetty
8. Easy to relocate
9. Low environmental impact
10. Low Risk of Safety and Security
issues

13. NUSANTARA REGAS BUSINESS MODEL
LNG carrier
FSRU
GAS buyer
(PLN)
LNG supplier
(existing)
PT Nusantara
Regas
Tug Boat
LNG supplier
(additional)
GAS buyer
(others)
• Agency
• Surveyor
GSASPA
The business model
used by PT
Nusantara Regas is
derived from the
conventional LNG
business, and being
adjusted to a
controllable risk level
for an 10 years
optimum return
Note:
SPA: Sales Purchase Agreement
TSA: Terminal Service Agreement
GSA: Gas Sales Agreement
TCP: Time Charter Party

14. FSRU BASIC ANNUAL OPERATION
Gas demand
nomination
for each power
plant
• LNG cargo
schedule
• Shipping
schedule
NR & ORF
Send out gas to
• Muara Karang (350 & 620 psig)
• Muara Tawar (500 psig)
• Tanjung Priok (350 psig)
PLN & NR
NR & LNG
Seller
NR & FSRU
NR & LNG
vessel
• Implement
shipping
schedule
• Implement
gas
nomination
• P: 700 psig
• T: 30 oC
Jan DecNov Dec
INPUTINPUT INPUT INPUT
TRANSPORTATION REGASIFICATION DISTRIBUTIONSCHEDULINGSCHEDULING
Year (n) Year (n+1)

15. OUR PERFORMANCE
PT Nusantara Regas has
maintaining its
controllable risk conditions
to reach an optimum
performance by managing
its supply, demand, and
infrastructure parameters.
FSRU Utilization
Jakarta Bay Demand

16. FSRU DEMAND PROFILE
1. Load Follower - Gas from FSRU is not base load for PLN as anchor Buyer.
2. Load Peaker - Gas from FSRU is used as peaker, means gas is used to increase electricity
production during peak time on top of base fuel used.
342.8
259.2
0
50
100
150
200
250
300
350
400
SOR
00:00 – 07:00 08:00 – 20:00
mmscfd
21:00 – 24:00
 SOR : Send Out Rate
 Extracted data was obtained from daily operational report of 24 April 2014
Load Follower
Load Peaker
• The highest ramp up
was achieved from
123.7 to 306.4 mmscfd
within 4 hours or 45.6
mmscfd per hour.
• The guaranteed ramp
up is from 60 mmscfd
to 500 mmscfd should
less than 2 hours.
• Gas nomination from
Buyer is average 220
mmscfd (weekday) and
150 mmscfd (weekend).

17. LNG CARGO SUPPLY
a) 2012 – 2017 is confirmed
b) 2017 – 2022 is estimation
Maximum
existing
FSRU
capacity
52
14
22 22 22
17 17 17 17 17
13 13
2
5 5
4 4
1
7
11
28
40
44
55 57
0
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
LNGCARGO
FSRU Demand
Bontang cargo (existing) Add cargo from Tangguh Add cargo from Bontang

18. PLTG
M. TAWAR
FSRU NR
500 MMSCFD
PLTG MK
BLOK 1/4/5
(350 psig)
M. Karang-M. Tawar Pipeline 24” – 30 km
ORF NR
500 MMSCFD
PLTG PRIOK
BLOK 1/2/3
Pertamina EP
15 MMSCFD
FSRU-MK Pipeline
24”- 15 km
107
MMSCFD
270
MMSCFD
200
MMSCFD
185
MMSCFD
PLTG MK
BLOK 2
(620 psig)
135
MMSCFD
ORF PHE MK
PGN
12” 18”
12”
50
MMSCFD
185
MMSCFD
PLTG PRIOK
BLOK 4
(NEW)
24”
MK-PriokPipeline
26”–12.3km
12”
20”
18”
INDUSTRI INDUSTRI INDUSTRI
M.Tawar–TegalgedePipeline
SKG
Tegalgede
NR Gas Supply
Pertagas Gas Supply
Planned Facility
PHE ONWJ Gas Supply
Custody Meter
Allocation Meter
INDUSTRI
200
MMSCFD
120
MMSCFD
12”
ONWJ Gas Field
90 MMSCFD
SKG MKS
16”
135
MMSCFD
PLTG MK PEAKER
(NEW)
ORF PHE Priok
PGN
PGN
50
MMSCFD
PGN Gas Supply

19. INDONESIA NATURAL GAS SUPPLY-DEMAND BALANCE
Source: Indonesia Oil & Gas Directorate General 2016
Domestic Contracted Demand
Power Potential Demand
New Supply Project
Export Contracted Demand
Industry Potential Demand
Potential Supply
Domestic Committed Demand
Existing Supply
Potential Imported Supply
Beyond 2020, the domestic gas demand growth rate is greater than the new gas supply growth rate. It
makes a big opportunity of LNG Terminal Infrastructure Development in order to fulfill gas demand.

20. West Java FSRU
Location : Jakarta Bay
Capacity : 400 mmscfd
Operator : Nusantara Regas
COD : Q 3 2012
Planned pipelineExisting pipeline
Existing FSRU Planned FSRU RT
LNG Bontang
LNG Tangguh
LNG Donggi
Center Java FSRU
Bali Rec Terminal (small scale):
Location : Benoa, Bali
Capacity : 20 mmscfd
Operator : Pelindo Energi Log
Kalimantan Reg. Terminal
• Semberah: 5 mmscfd
• Tanjung Batu : 16 mmscfd
• Batakan: 3 mmsccfd
• Bontang: 6 mmscfd
Likupang Reg. Terminal: 5 mmscfd
Pomala Reg. Terminal: 25 mmscfd
Makasar Reg. Terminal:
100 mmscfd
Halmahera Reg. Terminal:
60 mmscfd
Lampung Java FSRU
Location : Lampung
Capacity : 250 mmscfd
Operator : PGN LNG
COD : Q 3 2014
Cilacap FSRU
INDONESIA LNG SUPPLY-DEMAND POINTS
Arun Regasification & Hub
Location : Arun
Capacity : 400 mmscfd
Operator : Perta Arun Gas
COD : Q 1 2015
Kalsel 25 mmscfd
Kupang 5 mmscfd
Maumere 5 mmscfd
Lombok (10),
Sumbawa (10), Bima
(10), Flores (5),
Maumere (5)
Existing LNG Terminal Planned LNG RT
Bangka : 10 mmscfd
Belitung: 5 mmscfd
Kepri : 10 mmscfd
Existing LNG Plant

21. PT. NUSANTARA REGAS FUTURE OPPORTUNITIES
Remote
Small scale
Power plant
Small LNGC
FSRU
LNGC
Power plant
Small LNG storage
& regas terminal
LNG Bunker Barge
LNG fueled ships
LNG liquefaction plant
LNG rail tanker
LNG truck
Remote Small scale
Power plant
LNG isotank
LNG fueled
dump truck
LNG fueled
truck
industry
LNG fueling station
Blue: existing
Red: future
Loading - Off-Loading
Facility
industry

22. LOADING / OFF-LOADING FACILITY DEVELOPMENT
NR & FSRU Provider have planned
to install LNG off-loading facility
from FSRU to Small LNG Carrier to
capture & serve LNG Retail demand

23. THANK YOU